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dc.contributor.authorAnderson, Gordonen
dc.date.accessioned2012-11-23-
dc.date.accessioned2012-11-28T16:47:24Z-
dc.date.available2012-11-28T16:47:24Z-
dc.date.issued2012-
dc.identifier.citation|aEconomics: The Open-Access, Open-Assessment E-Journal|c1864-6042|v6|h2012-42|nKiel Institute for the World Economy (IfW)|lKiel|y2012|p1-44en
dc.identifier.pidoi:10.5018/economics-ejournal.ja.2012-42en
dc.identifier.urihttp://hdl.handle.net/10419/67050-
dc.description.abstractAphorisms that 'rising tides raise all boats' or that material advances of the rich eventually 'trickle down' to the poor are really maxims regarding the nature of stochastic processes that underlay the income/wellbeing paths of groups of individuals. This paper looks at the implications for the empirical analysis of wellbeing of conventional assumptions regarding such processes which are employed by both micro and macro economists in modeling economic behavior. The implications of attributing different processes to different groups in society following the club convergence literature are also discussed. Various forms of poverty, inequality, polarization and income mobility structures are considered and much of the conventional wisdom afforded us by such aphorisms is questioned. To exemplify these ideas the results are applied to the distribution of GDP per capita in the continent of Africa.en
dc.language.isoengen
dc.publisher|aKiel Institute for the World Economy (IfW) |cKielen
dc.subject.jelC22en
dc.subject.jelI32en
dc.subject.jelD63en
dc.subject.jelD91en
dc.subject.jelO47en
dc.subject.ddc330en
dc.subject.keywordstochastic processesen
dc.subject.keywordpovertyen
dc.subject.keywordinequalityen
dc.subject.keywordwellbeing measurementen
dc.titleBoats and tides and "trickle down" theories: What economists presume about wellbeing when they employ stochastic process theory in modeling behavior-
dc.typeArticleen
dc.identifier.ppn730414035en
dc.rights.licensehttp://creativecommons.org/licenses/by-nc/2.0/de/deed.enen
dc.identifier.repecRePEc:zbw:ifweej:201242en
econstor.citation.journaltitleEconomics: The Open-Access, Open-Assessment E-Journalen
econstor.citation.issn1864-6042en
econstor.citation.volume6en
econstor.citation.issue2012-42en
econstor.citation.publisherKiel Institute for the World Economy (IfW)en
econstor.citation.publisherplaceKielen
econstor.citation.year2012en
econstor.citation.startpage1en
econstor.citation.endpage44en

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